How is economic growth shown by the production possibilities curve?

A) by shifting the curve to the right
B) by moving the curve to the left
C) by moving up the existing curve
D) by changing the shape of the curve from a straight line to one that is bowed


Answer: A

Economics

You might also like to view...

Upstream and downstream refer to the degree of horizontal integration

Indicate whether the statement is true or false

Economics

Consider two goods--one that generates external costs and another that generates external benefits. The actual market outcome would

a. result in output that is lower than the efficient output for both goods. b. result in output that is higher than the efficient output for both goods. c. result in output that is lower than the efficient output for the good with an external benefit and output that is higher than the efficient output for the good with an external cost. d. result in output that is higher than the efficient output for the good with an external benefit and output that is lower than the efficient output for the good with an external cost.

Economics

Which of the following causes a leftward shift in the short-run aggregate supply curve?

a. An increase of goods prices while nominal incomes are unchanged. b. An increase of full-employment real GDP. c. An increase of personal consumption expenditures while the price level is unchanged. d. An increase in nominal incomes.

Economics

Citizens can consume more of everything in a(n)

A. open economy. B. closed economy. C. economy with many citizens. D. autarky.

Economics